Asfinag gets strong reception for 10 year with positive yield

Austria_Adobe_230x150
By Burhan Khadbai
02 Jul 2019

Austrian agency Asfinag won a big order book on Tuesday, allowing it to price 3bp tighter than guidance, in a 10 year tenor the issuer hasn't accessed since 2009. Municipality Finance and the German federal state of Lower Saxony will add to the euro SSA supply on Wednesday with a 10 year green bond and a seven year benchmark, respectively.

Following Asfinag's mandate announcement on Monday, leads Crédit Agricole, Goldman Sachs, JP Morgan and UniCredit opened the books on a €600m no-grow 10 year bond with guidance of mid-swaps minus 1bp area.

With the books at over €1.75bn, the guidance was revised to minus ...

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